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Elon Musk Close to Buying Twitter for $46.5B, Dogecoin Surges by 9%
Summary: Dogecoin (DOGE) surged by 9% in the past few hours according to Bitpush Terminal data as reports come in of Elon Musk being close to finalizing his Twitter acquisition at $54.20 per share, despite Twitter’s initial rejection. DOGE, one of Elon Musk’s favorite cryptocurrencies, is now up to $0.1398 which comes in at a 5.75% ...
Dogecoin (DOGE) surged by 9% in the past few hours according to Bitpush Terminal data as reports come in of Elon Musk being close to finalizing his Twitter acquisition at $54.20 per share, despite Twitter’s initial rejection.
DOGE, one of Elon Musk’s favorite cryptocurrencies, is now up to $0.1398 which comes in at a 5.75% increase in the last 24 hours, with the highest spike being close to 9%. While the infamous memecoin’s price is not directly correlated to Musk’s Twitter takeover, Doge does respond favorably when Musk is making headlines.
Musk, Tesla and SpaceX CEO, is currently a 9.2% investor in Twitter and recently acquired the funding to make the $45.6 billion acquisition a reality. He also happens to be a big proponent for Dogecoin.
"The point is that Dogecoin was invented as a joke, essentially to make fun of cryptocurrency, fate loves irony. What would be the most ironic outcome? The currency that started as a joke in fact becomes the real currency. To the moon!" Musk once said about Dogecoin.
Musk has also emphasized the benefits of Dogecoin over Bitcoin, suggesting that Dogecoin has more transactional benefits than Bitcoin, the main one being the price. In addition, Dogecoin is the only cryptocurrency accepted by Tesla.
With comments like this and others showing Musk’s endorsement of the memecoin and his potentially imminent purchase of Twitter, fans and analysts can’t help but wonder if there is a future for Dogecoin on Twitter.
In fact, earlier this month Musk proposed DOGE payments on Twitter for Twitter Blue, the site’s subscription service.
Author: Tyler Irvin
